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ND HB1400
Bill
Status
1/16/2023
Primary Sponsor
Keith Kempenich
Click for details
AI Summary
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Changes the board of university and school lands from having "full control" to having "investment authority" over permanent funds derived from land sales.
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Allows the board to use the state investment board for investments under a contract arrangement pursuant to section 21-10-06.
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Authorizes the state investment board to provide investment services and manage the common schools trust fund money subject to a written contract with the board of university and school lands.
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Permits the state investment board to charge fees for investment services, with revenue collected deposited into the state retirement and investment fund.
Legislative Description
Investment of the common schools trust fund.
Last Action
Second reading, failed to pass, yeas 13 nays 80
2/1/2023